比特币价格凌晨，刚破 117000 美元就跳水，24小时跌3.21%

Core Insights - Bitcoin experienced a significant price fluctuation, reaching a historical high of $117,200 before dropping to $113,000 within 24 hours, marking a decline of 3.21% [1] - The volatility led to a massive liquidation event, with 170,600 traders being forced to close their positions, resulting in a total liquidation amount of 4.6 billion RMB, with the largest single liquidation reaching $8.74 million [1] Group 1: Market Dynamics - The recent price surge is attributed to two main factors: global liquidity expansion and increased demand for safe-haven assets, following a 25 basis point rate cut by the Federal Reserve [4] - The price of Bitcoin surged due to heightened risk aversion stemming from the U.S. government shutdown, with Bitcoin being viewed as "digital gold" [7] - The market saw a significant increase in Bitcoin's price, rising over 23% from the beginning of the year, with a maximum fluctuation of over $3,700 within 24 hours [5] Group 2: Institutional Behavior - Institutions are still optimistic about Bitcoin's long-term prospects, with targets set at $135,000 for the short term and $200,000 for the end of the year [12] - Some institutions opted to take profits at the new highs, contributing to the sell-off, while the liquidation amount was lower compared to previous peaks, indicating that the driving force was more from spot funds rather than high-leverage speculation [10] - The influx of institutional funds, particularly from the ongoing interest in spot ETFs, has provided significant support for Bitcoin's price [7] Group 3: Investor Sentiment and Strategies - Investors are advised to avoid high-leverage trading, as many liquidated positions were from traders using over 5x leverage, highlighting the risks associated with high returns [14] - Key signals to monitor include Federal Reserve policies, developments regarding the U.S. government shutdown, and ETF fund flows, which are crucial for understanding market movements [14] - Diversification is recommended to mitigate risks, as the cryptocurrency market can be highly volatile, emphasizing the importance of long-term survival over short-term gains [14]